Colin Caryk/Royal Lepage Nanaimo Realty

12/06/2025

ITs been a while....but...He's Back....

02/28/2025

Will buyers and sellers now have to pay seperate commissions to their Realtors®??

How will Re/Max Canada's decision to settle impact real estate commissions, industry practices, and potential future litigation in Canada?

11/30/2024

COLINS PICK OF THE WEEK.....
Welcome to 626 Haliburton St, this lovely 5 bed/ 2 bath family home situated on a large .24 acre lot comes with an in-law suite (incl kitchen with dishwasher), ideal for the extended family or multi generational living and has been substantially rebuilt in 2010. In addition, the perimeter drain, water and sewer line have all been updated by the current owners. Laneway access and lot size give interesting options for potential future development or potentially a carriage house (Buyer to verify with city for details) to meet the City's growing density needs, or keep it as is and enjoy this peaceful oasis so close to the city centre. Shopping, Restaurants (Southgate Mall, downtown Nanaimo, Port Place Mall) and the new Hullo Passenger ferry for easy access to downtown Vancouver, are only a short drive away. This is truly a versatile property in a central location in one of Canada's fastest growing municipalities. All information must be independently verified by Buyer if deemed material.

11/06/2024

Well… democracy works.. the people have spoken.. as asinine as they are collectively.. south of the border.. they have spoken. Sad that this is likely the last time people will be able to speak their voice much less be heard. What a rodeo.

10/31/2024

DEATH FOR YOU ...LIFE FOR YOUR CROPS, CHARYOU TREE COME REAP...

10/24/2024

30 Year amortizations will be available for all first time buyers with less than 20% down. Previously this was capped at 25 years.
What this means for Canadians: Lower payments! For example, you would save $250/mth on a $500K mortgage by lengthening your amortization from 25 to 30 years.
Less than 20% down on homes under 1.5M. Previously, homes purchaed under 1M were eligible for a minimum (5-20%) downpayment. Under the new rules, buyers can put 5% down on the first $500K and 10% on the rest (up to $1.5M).
What this means for Canadians: For a $1.25M home, you'll need just $100K down, compared to $250K now! This is great news for move up buyers who want that $1M+ home but won't have the 20% downpayment when they sell their starter home!
This also means access to insured mortgage rates which are almost always lower than uninsured rates!
No more stress test when switching lenders! Previously, mortgage holders had to qualify at their interest rate plus 2% to switch lenders with a conventional mortgage.
What this means for Canadians: More competition means better rates for you!
Refinance to 90% to build a rental suite! Previously, refinances were capped at 80% of your home's value. More information to come here, but so far we know we'll be able to use 90% of the as if completed value and it's given up front, not in draws like a construction mortgage!
What this means for Canadians: Boost your home's value AND create an income-producing suite which means more cash flow for your family!
These mortgage changes along with a continuing downward trend in interest rates makes this a great time to make a move.
Let me help you love ❤️ where you live! AS ALWAYS: CHECK WITH YOUR TRUSTED FINANCIAL ADVISOR AND LENDER BEFORE JUMPING INTO THE POOL

10/24/2024

Today, the Bank of Canada dropped the overnight lending rate by 50 basis points to 3.75%, marking the fourth consecutive cut to rates in 2024, and the largest decrease since the onset of the pandemic in March 2020.

For many homebuyers, this may be the signal needed to move off of the sidelines and into the market. As lower interest rates boost consumer confidence and borrowing power, home prices are expected to rise as more buyers reignite their purchase plans.

Want to know more about how the Bank of Canada announcement will impact the market? Read more in the latest post on the RLP blog:

https://blog.royallepage.ca/bank-of-canada-update-october-2024/

Stay tuned for the next announcement on December 11.